Alliancebernstein L.P. grew its position in The Bank of Nova Scotia (NYSE:BNS - Free Report) TSE: BNS by 66.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,398 shares of the bank's stock after purchasing an additional 62,880 shares during the quarter. Alliancebernstein L.P.'s holdings in Bank of Nova Scotia were worth $8,455,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in BNS. Vanguard Group Inc. increased its stake in Bank of Nova Scotia by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 51,363,146 shares of the bank's stock valued at $2,758,150,000 after purchasing an additional 969,488 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Bank of Nova Scotia by 1.7% in the 4th quarter. TD Asset Management Inc. now owns 18,966,078 shares of the bank's stock valued at $1,017,933,000 after acquiring an additional 308,837 shares during the period. Norges Bank purchased a new position in Bank of Nova Scotia in the 4th quarter worth $690,746,000. CIBC Asset Management Inc lifted its position in Bank of Nova Scotia by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 10,259,279 shares of the bank's stock worth $551,766,000 after acquiring an additional 184,761 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Bank of Nova Scotia by 5.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,096,123 shares of the bank's stock valued at $434,196,000 after purchasing an additional 385,333 shares during the last quarter. 49.13% of the stock is owned by institutional investors and hedge funds.
Bank of Nova Scotia Price Performance
BNS stock traded up $0.01 during mid-day trading on Tuesday, reaching $46.88. 1,354,254 shares of the company's stock were exchanged, compared to its average volume of 1,681,217. The company has a market cap of $58.39 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The Bank of Nova Scotia has a 12-month low of $43.68 and a 12-month high of $57.07. The stock's 50 day moving average is $48.57 and its 200 day moving average is $51.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03.
Bank of Nova Scotia Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Tuesday, April 1st will be paid a $0.7415 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.97 dividend on an annualized basis and a yield of 6.33%. Bank of Nova Scotia's dividend payout ratio is currently 83.05%.
Wall Street Analysts Forecast Growth
BNS has been the subject of a number of research reports. Bank of America downgraded Bank of Nova Scotia from a "buy" rating to a "neutral" rating in a report on Monday, March 31st. Royal Bank of Canada decreased their price objective on Bank of Nova Scotia from $83.00 to $81.00 and set a "sector perform" rating for the company in a report on Wednesday, February 26th. CIBC reiterated a "neutral" rating on shares of Bank of Nova Scotia in a research report on Tuesday, February 18th. Finally, Cibc World Mkts lowered Bank of Nova Scotia from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $81.00.
Check Out Our Latest Stock Analysis on Bank of Nova Scotia
Bank of Nova Scotia Company Profile
(
Free Report)
The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.
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